Making some renovations to your home can help improve it and make it a great place to live. Additionally, if done right, it can add value to your home, which is perfect if you have plans of selling your property in the future. But keep in mind that not all renovations and remodeling are created equal. Although there are some projects that can add value to your home, there are also others that can decrease its price. So, as a homeowner, what should you do?
Home Renovation Projects That Can Increase Your Home’s Value
If you want to add significant value to your home, then the following tips can help you.
Renovate Your Kitchen
Remodeling your kitchen can definitely pay off. Most likely, prospective homebuyers are searching for modern kitchens. That is why it is only practical that you should update your kitchen. But as much as possible you should not go overboard. For instance, it is not practical to spend an $80,000 kitchen renovation on your home that is worth $125,000.
It is advisable that when you are renovating your kitchen, you should start small. For instance, you can install new cabinet hardware, replace your kitchen faucet, or upgrade your old light fixtures with energy-efficient options. Instead of replacing your cabinets, you can choose to paint them with a new color or refinish the cabinet boxes. Another option would be to install new hardware, drawers, or cabinet doors. Although these are just small updates, they can help in improving the overall look of your kitchen.
Remodel Your Bathroom
Just like your kitchen renovation, you should not go crazy. Just do some minor renovations such as making the room vibrant with new paint, installing new fixtures, or re-grouting the bathtub. One of the easiest ways of transforming the look of your bathroom is to install new light fixtures or a mirror.
Upgrade Your Appliances
If you find that your appliances don’t match, then the best thing you can do is order new face panels and doors from the manufacturer. This can help make your kitchen look more connected rather than replacing your appliances, which can cost a lot.
Although if you have older appliances, then you might consider upgrading them to energy-efficient models, which use less energy and are environmentally friendly. Sometimes prospective buyers are looking for ways they can save money when searching for a new home.
Add a Deck
Adding a deck can be worthwhile since it can offer you a high return on investment. This is because this can expand your living area and costs less to construct. A wooden deck would be much cheaper to build than a composite deck.
Renovate Your Basement or Attic
Keep in mind that the cost of adding square footage to your home can cost you more than what you originally planned. So, rather than adding, why not remodel the extra space in your home? For instance, you can renovate your attic and turn it into a workout area or another bedroom. If you have a basement in your house, then you can transform this into a family room. Make the room more versatile so that it can be more appealing to prospective buyers.
Improve Curb Appeal
Keep in mind that first impression counts. Boosting the look of your curb appeal can be as easy as cleaning the siding of your house or as complicated as installing a new walkway. You don’t have to spend too much to make it effective. If you want to instantly improve the appearance of your home, then you replace your front door.
This is inexpensive and simple. Additionally, this is one of the best home improvements that you can do for your home. Having pots of geraniums or flowerbeds can add a touch of color. Finally, add mulch to the surroundings of the trees and bushes, at the same time, you can also prune the shrubs.
Scrubbing the siding of your home can help in getting rid of the dirt that has developed throughout the years. This is also the time to retouch or fix any damaged areas. Just like the other items that were mentioned above, you should avoid going overboard.
It would be great to have a nice backyard, however, you should also remember that this can’t affect your asking price. Having a well-maintained lawn and well-arranged vegetation and shrubbery are actually what you need in boosting your home’s curb appeal.
Enhance Energy Efficiency
You will be informed by the home inspector if your home has insufficient insulation, or if the windows and doors are a bit airy. Take note that this can lead to higher energy consumption and bigger bills to pay. The best solution is to begin with small upgrades. For instance, you could install additional insulation in your attic. Be sure to seal any cracks on the windows and the doors. Fix or replace any damaged electrical sockets and light switches to prevent high energy usage.
Airy windows can potentially discourage prospective buyers. To help you to save money on your cooling and heating costs, you can install Energy Star-rated windows. In addition, if you upgrade to Energy Star-rated, then you can be qualified for a green energy tax credit.
Although some potential buyers are not expecting that your windows will be in good condition and replacing them will not increase your asking price. However, not changing your windows could decrease its price.
What Are Some Renovation Projects That Have a Negative Effect?
There are actually some home improvement projects that can negatively impact the resale value of your home. Generally, the more you customize your home improvement project according to your needs, personality, or taste, the less chance that it can create a positive impact on the resale value of your home.
Although you may like having your own home recording studio, nevertheless, this might not be appealing to a young family. Having to remodel the entire room could likely discourage them from buying your home. However, this does not mean that you can’t accomplish any of the home improvement projects that were mentioned above.
Just don’t anticipate that the buyer will pay you extra money for your marble floors in the bathroom. The following are some projects that have a negative effect on your home’s resale value.
Luxury Upgrades
Although you love having marble floors in your bathroom, a potential buyer might not be enthusiastic about paying you more for it. Take note that the resale value of the highest quality upgrades is not the same as the quality mid-range upgrades, except of course if you are living in a very high-end home.
Hence, it would be wise to invest in quality appliances and other upgrades that are more appealing to common buyers. As much as possible, your upgrades should be on par with the other houses in your neighborhood. Do not make your home the most expensive one on the block.
Swimming Pools
Having your own in-ground swimming pool seems to be luxurious, but you have to consider that it has a negative effect on your home’s resale value. For families having small children, a swimming pool could be hazardous.
Also, there are some potential buyers who are not interested in paying extra for insurance and energy costs. Also, you should consider if it can be used all year long. Having a swimming pool in Florida or southern California might be a good idea but not so much if you are living in Seattle.
Cardinal Custom Construction can help you with your home renovation projects. For more information, you can call us at 650-714-5103 or send us an email at dmadwed@gmail.com.